This time only Europe is affected - or to be more precise, Italy. About 1,000 people will be laid off. While this might be limited to Italy, I think this is a bad sign for all of us. Vodafone is on a layoff rampage and I doubt it plans to stop any time soon. There'll be a lot more all over the globe before it's done.
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Vodafone management is only looking out for them. You can't compete by cutting costs. They have no idea of how to grow revenue. They don't invest in marketing or sales training. They are slow to deploy new services. The local operating companies ignore corporate and do whatever they like. There is no central strategy. Vodafone is the worst of the big global telcos. Management cuts costs to keep the earns per share up hoping that this will keep the share price up so that they can cash out.